Massachusetts-based chronic disease management company Beta Bionics has raised USD 100 million in Series D funding co-led by Sands Capital and Omega Funds, with participation from Marshall Wace and existing investors such as Soleus Capital and Farallon Capital.

The funds will be used to expand access to the iLet Bionic Pancreas across the US and further develop and test the bi-hormonal bionic pancreas. 

Beta Bionics is a diabetes management company that has developed the iLet Bionic Pancreas, which is an automated insulin delivery system in single-hormone and bi-hormonal configurations that determines 100% of all insulin doses. The iLet Bionic Pancreas eliminates traditional setup, carb counting, corrections, and calculating boluses. The iLet Bionic Pancreas platform is engineered to utilize adaptive, self-learning control algorithms in conjunction with continuous glucose monitoring and pump technology.